Fitch ups AmerisourceBergen

Fitch Ratings said it upgraded AmerisourceBergen Corp.'s issuer default rating to BBB+ from BBB, senior unsecured credit facility to BBB+ from BBB and senior unsecured debt to BBB+ from BBB.

The outlook was revised to positive.

The upgrades are supported by the company's demonstrated ability and commitment to operate with leverage below 1.3x over the long term, Fitch said.

The company's performance was driven by relatively reliable demand growth, an ongoing focus on cost control, stable margins, solid working capital management and resulting strong operational cash flow, the agency said.

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